Roblox (NYSE:RBLX) Price Target Raised to $75.00

Roblox (NYSE:RBLX) had its price target increased by stock analysts at Morgan Stanley from $65.00 to $75.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 23.56% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Macquarie boosted their target price on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wedbush restated an “outperform” rating and issued a $49.00 target price on shares of Roblox in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 target price on shares of Roblox in a report on Friday, November 22nd. Finally, Piper Sandler boosted their target price on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average price target of $56.62.

Roblox Trading Down 1.8 %

Shares of NYSE:RBLX traded down $1.12 during mid-day trading on Monday, reaching $60.70. 4,632,953 shares of the company’s stock were exchanged, compared to its average volume of 5,936,299. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of -37.01 and a beta of 1.43. The business’s fifty day moving average price is $55.94 and its 200-day moving average price is $46.77. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a twelve month low of $29.55 and a twelve month high of $63.58.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.45) earnings per share. On average, research analysts predict that Roblox will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,254,601 shares of company stock valued at $65,622,735. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors have recently added to or reduced their stakes in RBLX. ValueAct Holdings L.P. grew its position in Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after purchasing an additional 7,835,921 shares in the last quarter. FMR LLC grew its position in shares of Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after acquiring an additional 4,115,286 shares during the period. Dragoneer Investment Group LLC grew its position in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the period. Whale Rock Capital Management LLC bought a new position in shares of Roblox during the 3rd quarter valued at approximately $107,491,000. Finally, Greenvale Capital LLP bought a new position in shares of Roblox during the 2nd quarter valued at approximately $89,304,000. 94.46% of the stock is owned by institutional investors.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.